The latest round of inflation data will be published today in the form of an updated Consumer Price Index, but you shouldn’t expect those figures to dampen gold’s shine. With new record after new record being broken, the gold bulls are currently unstoppable, and analysts say even an uptick in inflation can’t cause gold’s appeal to fade.
FX Pro senior market analyst, Alex Kuptsikevich says that if you’re buying gold, you’re in a win-win situation right now.
“It seems that any news on the US is a reason to buy. Signals of a strong economy and inflation – highlight gold’s property of retaining value. Weakness in inflation – fuels expectations that the Fed will be cutting rates soon, which favours demand for risk assets.”
